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Monmouth Beach to advertise hearing on using fair-share funds to acquire 25 Meadow Ave unit
Summary
Council moved to advertise an ordinance to appropriate fair-share housing funds to purchase a two-bedroom unit at 25 Meadow Avenue; public questions about price, resale restrictions and whether the borough will manage or sell the unit were raised by a resident.
The borough introduced an ordinance that would appropriate fair-share housing funds to purchase a two-bedroom unit at 25 Meadow Avenue and set a public hearing for Aug. 26, 2026 at 7 p.m. The chair said the purchase is intended to help the borough meet state fair-share housing requirements.
During a brief public comment period resident Richard Lawner asked, "We're buying for 640. What are we selling for?" Officials responded that the borough expects the fair-share housing fund balance to exceed $1,000,000 and that state processes—often a lottery or use of a management company—typically determine who receives such units. A borough official said deed restrictions that prevent market-rate renting are commonly required under fair-share programs and that the borough may use a management company rather than directly resell the unit.
Council moved to advertise the ordinance and proceed to a second reading; no final sale or buyer was selected at the July meeting.
